• The main US stock indices grew moderately following the results of today's trading

Market news

3 January 2018

The main US stock indices grew moderately following the results of today's trading

Major US stock indexes completed the session on positive territory, supported by the growth of shares in the conglomerate sector and the core resources sector.

In addition, according to a report published by the Institute for Supply Management (ISM), in December, activity in the US manufacturing sector grew, contrary to the forecasts of economists, who suggested deterioration. The PMI index for the manufacturing sector was 59.7 points in December against 58.2 points in November. Analysts had expected that this figure would drop to 58.1 points. The value of the ISM index greater than 50 is usually considered as an indicator of growth in production activity, and less than 50, respectively, of the fall.

Quotes of oil jumped by about 2%, reaching new 2.5-year highs, as the sustainability of production in the US and Russia was counterbalanced by continued tensions in Iran. Carsten Fritch, an analyst at Commerzbank, warned that prices may face correction, so the support provided by the riots in Iran will weaken if the situation does not begin to affect the volume of oil production, which has not yet happened, or the US will reapply sanctions.

Most components of the DOW index finished trading in positive territory (23 out of 30). The leader of growth was the shares of International Business Machines Corporation (IBM, + 2.87%). Outsider were shares of Intel Corporation (INTC, -3.72%).

Almost all sectors of the S & P index recorded an increase. The conglomerate sector grew most (+ 1.5%). The decrease was shown only by the utilities sector (-0.7%).

At closing:

DJIA + 0.40% 24,922.68 +98.67

Nasdaq + 0.84% ​​7,065.53 +58.63

S & P + 0.64% 2,713.06 +17.25

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